Real estate newsletter - latest articles.



In This Issue:

  1. Why Homes Sit On The Market And How To Keep Yours Moving — Diagnose the real reasons listings stall and relaunch with smart fixes in pricing, presentation, timing, and marketing.

  2. Understanding the Real Estate Transaction From Start to Finish — A clear, step-by-step walkthrough from offer to closing so you know what to expect and how to stay on track.

  3. Essential Tips For Buying In a Competitive Market — Act fast, structure stronger offers, and compete smartly without overpaying—even in bidding wars.


 

Why Homes Sit On The Market And How To Keep Yours Moving


Summary

A home that sits too long on the market becomes harder to sell—but most delays can be traced back to a few fixable issues. This report reveals the top reasons homes don’t sell quickly and outlines the proven tactics to get buyers through the door. From pricing and presentation to timing and marketing, learn how to diagnose the problem and relaunch with success


It’s a seller’s worst fear: you list your home, expecting offers—and then nothing. No showings, no offers, and no clue what went wrong. The longer your listing lingers, the harder it becomes to attract buyers. But don’t panic. Most stalled sales can be turned around with the right strategy. Here’s how to find out what’s holding you back—and how to fix it.

Why Homes Sit On The Market And How To Keep Yours Moving Why Homes Sit On The Market And How To Keep Yours Moving

Top Reasons Homes Sit on the Market

  1. Overpricing
    This is the #1 reason homes don’t sell. If buyers think your home is overpriced—even slightly—they won’t bother to tour it. Online search filters and price comparisons make overpricing easy to spot. Fix: Reevaluate your price based on comps, showing feedback, and agent advice.

  2. Poor Listing Photos
    Your online listing is your first impression—and bad photos can kill buyer interest instantly. Dim lighting, cluttered rooms, or vertical phone photos won’t cut it. Fix: Hire a professional photographer and consider a 3D tour or video walkthrough.

  3. Lack of Curb Appeal
    Buyers form opinions before they step inside. If the lawn is overgrown, the paint is chipped, or the entryway feels neglected, you’ve lost momentum before the showing begins. Fix: Tidy up landscaping, repaint the front door, and power wash the exterior.

  4. Limited Showing Availability
    If buyers can’t get in, they won’t buy. Homes with restricted showing hours or last-minute cancellations deter busy agents and motivated buyers. Fix: Make your home easy to show—consider a lockbox and stay flexible with your schedule.

  5. Weak or No Marketing
    Just listing on the MLS isn’t enough. Without strategic marketing, many buyers won’t even know your home exists. Fix: Work with an agent who uses digital advertising, social media promotion, targeted outreach, and staging to make your home shine.

  6. Unusual Layout or Condition
    Homes with quirky floor plans or outdated features can be harder to sell. Fix: Highlight unique positives, offer design suggestions, or consider minor updates (lighting, paint, flooring) to boost appeal.

  7. Negative Buyer Feedback Ignored
    If multiple buyers or agents provide the same feedback—listen. Whether it’s a pet smell, a dark room, or an awkward space, ignoring buyer concerns can cost you time and money. Fix: Act on consistent feedback quickly to remove objections.

How to Relaunch or Refresh Your Listing

If your home has already been on the market for several weeks or months:

  • Take the listing temporarily off-market and relaunch with changes
  • Adjust the price to realign with buyer expectations
  • Refresh the photos, description, and staging
  • Promote the listing as “Back on Market” with a strong marketing push

Work With a Proactive Agent
Your agent should provide regular updates, showing reports, and a plan to address obstacles. If they’re slow to act or dismiss your concerns, it may be time to reevaluate your partnership.

Conclusion:
Homes don’t just sit without reason. With the right diagnosis and a smart refresh, you can reignite buyer interest and get your home sold. Don’t settle for a stagnant listing—make the changes that matter and take control of your sale.


 

Understanding the Real Estate Transaction From Start to Finish



Summary

Real estate transactions can feel overwhelming—but they don’t have to be. Whether you’re buying or selling, understanding the full process from offer to closing puts you in control. This guide breaks down each stage of the transaction in simple terms so you know what to expect, what’s expected of you, and how to stay on track. Confidence starts with clarity—get it here.



The real estate transaction is more than just signing a few papers—it’s a coordinated series of steps involving multiple people, documents, and deadlines. Understanding how it all works can help you make informed decisions and avoid costly mistakes. Here’s how a typical transaction unfolds from beginning to end.

Understanding the Real Estate Transaction From Start to Finish Understanding the Real Estate Transaction From Start to Finish
  1. The Pre-Listing or Pre-Buying Phase

      Sellers: Choose an agent, prepare the home, gather paperwork, and determine your pricing strategy.
      Buyers: Get pre-approved, define your budget, hire an agent, and begin viewing homes.

  2. Making (or Receiving) an Offer

      Buyers: Submit an offer with price, contingencies, and proposed timeline.
      Sellers: Accept, reject, or counter the offer.
      Key components of the offer:
      • Purchase price
      • Financing method
      • Earnest money deposit
      • Contingencies (inspection, appraisal, financing)
      • Closing date

  3. Offer Accepted – Escrow Begins

    Once the offer is accepted and both parties sign, the home goes into escrow (or under contract). This period is when inspections, appraisals, and title work happen.

  4. Inspections and Negotiations
      Buyers schedule home inspections and may request repairs or credits based on findings.
      Sellers respond to requests, either agreeing, offering alternatives, or standing firm.

  5. Appraisal

    If the buyer is using a mortgage, the lender orders an appraisal to ensure the home’s value supports the loan. If it appraises low, price negotiations may follow.


  6. Title Search and Insurance

    A title company or attorney checks for liens or legal issues and ensures the property can legally change hands. Title insurance protects both buyer and lender.


  7. Final Loan Approval (Buyers Only)

    After inspections and appraisal, the lender finalizes loan underwriting. The buyer receives a Closing Disclosure outlining final costs.


  8. Final Walkthrough

    Usually 24–48 hours before closing, the buyer walks through the home to confirm it’s in agreed-upon condition and repairs (if any) are complete.


  9. Closing Day

    Both parties sign legal documents:

    • Deed transfer
    • Mortgage papers (buyer)
    • Settlement statement
    • Title/escrow closing documents

    Funds are transferred, keys are handed over, and the transaction is officially closed.


  10. After Closing
      Sellers: Pay off mortgage, cancel utilities, forward mail
      Buyers: Get utilities in their name, update address, move in!
Common Roles in a Transaction
  • Real Estate Agent Guides you through the process and negotiates terms
  • Lender Provides financing
  • Title Company / Lawyer Manages legal documentation and money transfers
  • Inspector Evaluates home condition
  • Appraiser Assesses property value

Whether you’re buying or selling, real estate doesn’t have to be confusing. By understanding each step in the process, you’ll be able to ask the right questions, meet important deadlines, and reduce your stress along the way. A good agent will help—but knowledge is power. And now, you’ve got it.


 

Essential Tips For Buying In a Competitive Market



Summary

In today’s fast-paced real estate market, competition is fierce, but with the right strategy, you can still come out ahead. This guide gives you the tools to act quickly, structure strong offers, and stay grounded through bidding wars. From pre-approval to escalation clauses, you’ll learn exactly how to compete smartly and avoid overpaying. Perfect for buyers navigating high-demand neighborhoods or tight inventory.



Essential Tips For Buying In a Competitive Market Essential Tips For Buying In a Competitive Market

In a hot housing market, homes can sell within days, or even hours. Bidding wars, multiple offers, and low inventory make it tough for buyers to compete. But with the right strategy and preparation, you can still win. This guide outlines essential tips that will help you navigate a competitive market, craft a winning offer, and land the home you love, without overpaying or getting discouraged.

1. Get Pre-Approved, Not Just Pre-Qualified

In a fast-moving market, you need to act fast. Sellers won’t wait for financing uncertainty. A mortgage pre-approval shows you’re serious, qualified, and ready to close. It can give you a major edge over buyers who haven’t secured their financing yet. Make sure your pre-approval letter is updated and includes the lender’s contact info for quick verification.

2. Understand the Market Before You Shop

Know what you’re walking into. Research recent sales, price trends, and how quickly homes are selling in your target area. Are homes selling above asking? Are there frequent bidding wars? Your agent can provide local insights that help you form a realistic strategy and avoid overbidding out of panic.

3. Work With a Responsive, Experienced Agent

Speed matters. A strong buyer’s agent will send you listings quickly, book showings fast, and help you write clean, compelling offers on short notice. Choose someone who knows the local market and has a track record of helping clients succeed in competitive environments.

4. Prioritize Your Must-Haves and Dealbreakers

You may not get everything on your wish list. Make a clear distinction between “must-haves” and “nice-to-haves.” Being flexible on finishes or non-essentials can open up more opportunities and give you room to compete where it matters most.

5. Be Ready to Tour and Offer Quickly

In fast markets, homes can receive offers the same day they’re listed. If you see something you love, don’t wait. Block time in your schedule for short-notice showings, and be prepared to make a decision quickly. Have your agent help you evaluate the home and craft an offer that same day, if necessary.

6. Write a Strong, Clean Offer

Avoid unnecessary contingencies. The fewer conditions your offer has, the more appealing it is to the seller. Include a high earnest deposit to show you’re committed. If possible, match or exceed the asking price and offer flexible terms (like a rent-back or quick close) if that’s important to the seller.

7. Consider an Escalation Clause (Use With Caution)

An escalation clause automatically raises your offer in response to competing bids, up to a maximum amount. It helps you stay competitive without blindly bidding high. But be cautious—this reveals your price ceiling and may invite counteroffers. Use only in collaboration with an experienced agent.

8. Write a Personal Letter to the Seller (Optional)

While not always appropriate or effective, a heartfelt letter can sometimes sway a seller, especially if they have emotional ties to the home. Share what you love about the property and how you envision your future there. Keep it brief, respectful, and positive.

9. Stay Calm in Bidding Wars

If a home attracts multiple offers, emotions can run high. Decide your top price ahead of time and stick to it. Don’t escalate beyond your budget just to “win.” There will always be another opportunity, and smart buyers know when to walk away.

10. Be Mentally Ready for Rejection

In tight markets, you may lose out on one or more homes before you succeed. Don’t let frustration cloud your judgment or push you to overpay. Stay committed to your goals, adjust your strategy if needed, and trust the process. Many buyers eventually land an even better home than the one they lost.

11. Expand Your Search Criteria

If you’re consistently outbid, consider widening your search radius or rethinking some of your must-haves. Sometimes moving just 5–10 miles outside your preferred neighborhood can reveal more affordable options with less competition.

12. Get Your Financials in Order

Make sure your funds for the down payment and closing costs are easily accessible. Avoid major financial changes, like switching jobs or taking on new debt, during the homebuying process. Your lender will re-check your financials before closing and keep things stable.

Buying in a competitive market isn’t easy, but it is doable with the right strategy, preparation, and mindset. The most successful buyers are informed, responsive, and ready to act fast. Use these tips to stay ahead of the competition, avoid costly mistakes, and secure your next home with confidence.


 

Bidding wars infiltrate Montreal’s rental market amid housing shortage

Thalita Costa de Moraes says she and her husband spend hours online every day, hoping to find a home for their growing family.

She says the process goes far beyond just making an offer.

“Write a letter, explain why you want to live here, tell the landlord about your family,” she explains.

All the same, the family says they’ve been turned down three times – despite at one point offering $550 a month extra.

The winning bid? $800 over asking.

“We didn’t know how much more we should offer because of course we wanted to get the house, but we’re not going to offer twice as much money,” she said.


Read More

 

‘Made-in-Ontario’ homes could be the key to solving the province’s housing crisis

Ontario is facing an affordability and supply crisis. With increasing demand, rising prices and housing starts down significantly, the Ontario Real Estate Association argues that the province must look to alternative methods to meet its housing targets. 

In a new report, Building More, Building Faster, OREA advocates for factory-built housing—commonly referred to as modular or prefabricated—as a key part of the solution.

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MORTGAGES Homebuyer warning: Mortgage mistakes to avoid

Wayne and Kathy Paquette thought they’d found the perfect retirement plan: a sleek floating home on the water, no property tax, no snow to shovel, and a fraction of the cost of a traditional house. They paid $265,000 to a man named Joe Nemins from a company called Live on The Bay.

No home was ever delivered.

Read More

 

RETIREMENT Avoid these retirement regrets, say seniors

In a short but powerful street-style interview video, a YouTube creator with more than a million subscribers asked retirees, aged 70 and older, about their biggest regrets, life advice, and what they’ve learned as they aged.

Turns out their advice could be drilled down into six important tips that can help you find happiness, live life to the fullest and avoid financial pitfalls.

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What Canadians really want in their homes in 2025, according to a new survey

One of the standout trends is the increasing demand for homes with separate entrances, particularly in Canada’s priciest provinces. A separate entrance is notably important to respondents in British Columbia (27 per cent) and Ontario (20 per cent).

Read More

 

CIRA’s guide to spotting CRA scams

As tax season approaches, many Canadians may be feeling overwhelmed and stressed. Unfortunately, scammers are aware of this and prey on people’s anxieties to extract money and obtain unauthorized access to personal data and financial information. 

Read More

 

What does the Bank of Canada’s rate cut mean for the housing market?

After the Bank of Canada cut the interest rate for the seventh time in a row Wednesday, experts say that’s good news for people looking to buy or sell a home in Canada.

Home prices have been stable for the past two-and-a-half years and according to Phil Soper, Royal LePage president and CEO, who spoke with CP24 on Wednesday, the situation will get even better.

“Financially, it’s going to make homes more affordable,” Soper says, noting the cost of borrowing has gone down, while wages and salaries have increased. “It’s not often if you look back at the last 50 years that housing actually gets more affordable in Canada and Southern Ontario, but that’s what’s happening.”

However, Soper says the disruptions from the actions of U.S. President Donald Trump will create “pressure” and “stress” for would-be buyers and sellers.

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Buyer loses deposit after failing to close on home destroyed by fire

  • A buyer agreed to purchase a home, but before closing, the property was destroyed by fire, triggering an insurance clause in the APS.
  • While the seller provided insurance details and extended the closing date, the buyer ultimately refused to close without a guaranteed minimum insurance payout, which was beyond the APS terms.
  • The court ruled that the buyer had breached the agreement, allowing the seller to retain the $25,000 deposit.

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407 ETR issues warning after increase in text message scams

The 407 ETR says it has seen an increase in scammers posing as the company through text messages and fake websites.

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Is The Capital Gains Tax Hike Officially “Dead In The Water”?

Mark Carney and Pierre Poilievre may not align on everything, but it seems they’re on the same page when it comes to the capital gains tax increase, which was introduced by the Liberals in April 2024 and would see the inclusion rate increased from 50% to 66.7%. For individuals, the higher inclusion rate would apply to gains over $250,000.

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Should Canadian retirees own or rent their home?

Faced with the rising cost of living, many American retirees are looking to control one of the most fundamental expenses: housing.

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Tariffs set to slow pace of homebuilding in Canada

Canada’s building industry is warning that a trade war with the United States will slow down the pace of home construction.

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GTA home sales down as mortgage costs, trade war weigh on buyers

Home sales in the Greater Toronto Area fell by more than one-quarter in February compared with a year ago despite buyers maintaining “substantial” negotiating power.

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Are the stresses of everyday finances?

For many, getting a good night's sleep is beyond finding an ergonomic pillow or taking some melatonin. Financial stress is weighing heavily on Canadians, with a new survey revealing that 60.4% of respondents go to bed worrying about money. The survey, conducted by Harris & Partners, a Canadian debt relief company, highlights the growing anxiety surrounding personal finances and the emotional toll of managing debt.

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Is now the right time to buy a Home?

High interest rates have been the catalyst for a retreat in new and resale home purchases in Canada in recent years. But even as interest rates drop, homebuyers appear to be waiting on the sidelines rather than buying up ever-growing inventory. In fact, according to the latest data by The Toronto Regional Real Estate Board (TRREB), new home sales in the Greater Toronto Area (GTA) have hit record lows, signaling a significant shift in buyer confidence.

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Canada Home Sales Decline On Tariff Uncertainty

Uncertainty around tariffs and a potential trade war with the United States were the likely culprits behind home sales falling off during the last week of January, according to the Canadian Real Estate Association (CREA). That weakness pushed national sales down 3.3 per cent compared to December, CREA said in its latest housing report.

At the same time, newly listed properties jumped 11 per cent month-over-month in January — uncommon for the typically slow winter season — reflecting “the largest seasonally adjusted monthly increase in new supply on record going back to the late 1980s,” the report said, aside from swings during the COVID-19 pandemic.

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Your grandparents knew a thing or two about managing money

The basics of managing your money successfully are as relevant today as they were when our grandparents came of age decades ago, writes Sandra Fry.

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How to file your taxes online in Canada

Whether you’re filing your taxes for the first time or looking for a better, cheaper way to do it, this short guide will show you how easy it is to file your taxes online in Canada.

In truth, you can file your tax return online or by mail. But the Canada Revenue Agency (CRA) — Canada’s tax law administrator — considers filing online the fastest and easiest way to do your taxes. Quite often you can do it for free.

The deadline to file your personal return for the 2024 tax year is April 30, 2025. So let’s dive into the why’s and how’s behind five simple steps that will make filing your tax online easier than you think.

 

What it takes to retire with a comfortable $10,000/month in Canada

Retirement is the goal for many, but getting there can feel like a formidable but rewarding challenge.

It takes preparation, diligence and patience to be able to accrue enough saved income in order to enjoy those golden years, especially suited to your individual circumstances and lifestyle preferences.

Everyone’s goal may be different, but all future retirees will agree: To live this period of your life as comfortably as possible.

It may take some extra effort, but putting in the work now to reap the rewards later is important. To help, here's a few tips on what it takes to retire with a comfortable $10,000 per month in Canada.

Stats about retirement in Canada

For those between the age of 55 to 64, the median amount for saved for retirement breaks down to the following:

  • $150,000 in your Registered Retirement Savings Plan (RRSP)
  • $21,489 in your Tax Free Savings Account (TFSA)
  • $127,007 in non-registered accounts, such as an investment portfolio
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CMHC predicts home sales, prices to rebound in 2025, but tariff threat clouds outlook

Canada Mortgage and Housing Corp. is forecasting a rebound in home sales and prices this year as homebuyers take advantage of improved borrowing conditions, but says its outlook is clouded by the threat of widespread tariffs from the U.S.

The national housing agency says a trade war between Canada and U.S., along with factors such as reduced immigration targets, would likely slow the economy and limit housing activity, even as some households see improved buying power in the short-term.

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Trump's 25% tariffs are on pause for now — So, what are tariffs and how can they impact your wallet and investment portfolio?

Tariffs are taxes imposed on imported goods and services. A tariff is paid by the importing business — so if a Canadian business owner imports a good from the US, the Canadian business owner would have to pay a tariff imposed by the Canadian government on US goods.

The most common form of tariff is ad valorem (Latin for, “according to value”). These tariffs are levied as a fixed percentage of the value of imports and are often used to raise revenue for government or to protect domestic industries.

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BMO forecasts 1.50% BoC rate by year-end if U.S. imposes tariffs on Canada

Canada received a temporary reprieve from U.S. tariffs for at least 30 days, but if enacted, BMO warns the Bank of Canada may be forced to cut its policy rate to 1.50% by year-end.

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5 money management tips for a successful retirement

Whether you’re on the cusp of retiring or a few years (or decades) away, it’s never too late to implement smart money moves for a successful retirement. And with the start of a new year, it’s the perfect time to review your finances and make strategic decisions to safeguard and grow your wealth.

To help, we've compiled five smart money moves designed to enhance your financial security and provide peace of mind during your retirement years. Use these money management tips to get your retirement savings on track.

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How families can lower gas and groceries bills

Chad Koch is the sole income earner of a family of seven and knows how pricy food can be.

According to the 2025 Food Price Report, the average Canadian family of four spent more than $16,000 on groceries in 2024.

On the other hand, Chad Koch spends up to $350 every two weeks on food and gas, (roughly $9,100 for the entire year), a much lower amount than the national average.

The St. Albert resident told CTV News Edmonton, “Having as many kids as we've had, we've had to always try to make sure that we're doing the most cost-efficient grocery shopping we could." Here's how he is able to accomplish this spectacular feat against all odds.

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7 powerful ways the Bank of Canada’s rate cut could change your financial future

The Bank of Canada (BoC) announced the first rate drop of 2025 — with a 25 basis point rate cut to its overnight rate. The rate cut of 0.25% was announced on January 29, 2025, following a 50 basis point cut in December 2024. The BoC's target rate now stands at 3.00% — pushing the bank prime rate to 5.20%.

This latest rate reduction reflects the ongoing economic uncertainty due, in part, to global unrest, the threat of trade wars and a sluggish domestic economy. For most Canadians, the real question is how this latest rate cut will affect their everyday living costs and those saving for a large purchase, such as buying a home.

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What is the Bank of Canada interest rate?

As of January 2025, the Bank of Canada interest rate is 3.00%.

The January 29 announcement marks the first interest rate announcement of 2025. The next interest rate announcement will be March 12, 2025.

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What to expect from the Bank of Canada during the January 29 rate announcement

The Bank of Canada (BoC) is set to announce its latest target interest rate decision on January 29, 2025. This policy update is critical for Canada’s economic recovery amid global economic uncertainty. For businesses, households, and financial markets, the decision could signal the next steps in monetary policy after a year of easing inflation, resilient employment, and global trade challenges.

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First of its kind banking option for skilled tradespeople in Canada

The CIBC Skilled Trades Banking solution will offer all apprentices in approved programs the opportunity for no-fee banking using the CIBC Smart Account.

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With declining interest rates and new lending rules, demand for housing in markets across Canada picks up in Q4

Despite economic and political uncertainty – both in Canada and south of the border – a revival of our national real estate market is underway thanks to lower interest rates, changes to mortgage lending rules, and renewed buyer demand. Strong activity through the final months of 2024 in most major regions from coast to coast resulted in moderate price gains, nationally. 

Read More

 

Inflation ticks lower to 1.8% in December

OTTAWA -- Canada’s annual inflation rate fell to 1.8 per cent in December, thanks in large part to the federal government’s temporary tax break.

Statistics Canada’s consumer price index report on Tuesday said restaurant food purchases, and alcohol bought from stores contributed the most to the deceleration.

The federal government introduced a temporary pause on taxes to those items in mid-December, along with children’s clothing and some toys, among others.

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TREB Market Watch

The Greater Toronto Area (GTA) housing market experienced a transitionary year in 2024. Annual sales were up slightly compared to 2023, and new listings were up significantly year-over-year. Buyers benefited from substantial negotiating power on price, especially in the condominium apartment market. Average selling prices in 2024 dipped in comparison to 2023 as a result.

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Toronto area new condo sales saw steep decline in 2024

The bad news keeps coming for the GTHA’s new condo market.

A report from real estate analytics firm Urbanation, released Thursday, found that in 2024, new condo sales in the region totalled just 4,590, marking a 64 per cent drop from 2023.

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Simcoe County Monthly Residential Report

December Stats Release: See what's going on in the market! 

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Development Charges Are Out of Control – New OREA Poll

Recent survey finds 1 in 4 aspiring homeowners have given up, reflecting a growing housing crisis described as “unaffordable” and “overpriced”.

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Housing unaffordability still rising despite billions in government measures: PBO

The report says 2.4 million Canadian households are now in “core housing need” -- 662,000 more than when Canada launched its national housing strategy in 2017.

The national housing strategy aims to pull 580,000 households out of core housing need, or reduce their need, by 2028. But the PBO’s latest projections say the government is nowhere near reaching that goal.

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Canada's unemployment rate ticks down

OTTAWA - Canada's labour market capped the year with some "good news," adding 91,000 jobs in December, shattering economist expectations, though there are still calls for further interest rate cuts amid the threat of U.S. tariffs.

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With declining interest rates and new lending rules, demand for housing in markets across Canada picks up in Q4

Despite economic and political uncertainty – both in Canada and south of the border – a revival of our national real estate market is underway thanks to lower interest rates, changes to mortgage lending rules, and renewed buyer demand. Strong activity through the final months of 2024 in most major regions from coast to coast resulted in moderate price gains, nationally. 

According to the Royal LePage® House Price Survey released today, the aggregate1 price of a home in Canada increased 3.8% year over year to $819,600 in the fourth quarter of 2024. On a quarter-over-quarter basis, the national aggregate home price remained essentially flat, rising a modest 0.5%. While activity began to flourish again in the final months of 2024, following sluggish demand in most major markets over the summer,  home price appreciation remained in check last quarter. 

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Canadians' financial stress ramping up despite interest rate cuts

"Despite interest rates decreasing, people are still concerned,"said Grant Bazian, president of insolvency firm MNP.

The survey, conducted by Ipsos, found fewer Canadians expect their debt situation to improve in the coming year while a growing number believe it will worsen. More than half say they don't think they will be able to cover all their living and family expenses in the next year without accruing more debt.

MNP's Consumer Debt Index, which measures Canadians' attitudes toward their debt and their ability to pay their bills,dropped to the second-lowest level since it began tracking in 2017. Meanwhile, Canadians' personal debt rating hit an all-time low. A third of respondents said they are insolvent, with women more likely than men to be $200 or less away from insolvency.

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2024 saw average rents fall for the first time since the pandemic, report says

2024 saw average rents fall in Canada for the first time since the COVID-19 pandemic began in 2020, when rents fell 5.4 per cent, with Toronto seeing a 7.1 per cent decrease, a national rent report shows.

In December, the average asking rent for all residential property types in Canada hit a 17-month low, falling by 3.2 per cent from last year to $2,109. 

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2024 – a transitional year for the GTA housing market: TRREB

Annual sales saw a modest increase compared to 2023, while new listings surged significantly year over year. This influx of listings provided buyers with considerable leverage in price negotiations, particularly in the condominium apartment market. As a result, average selling prices in 2024 experienced a slight decline compared to the previous year.

“Borrowing costs were top of mind for home buyers in 2024. High interest rates presented significant affordability hurdles and kept home sales well below the norm. The housing market did benefit from substantial Bank of Canada rate cuts in the second half of the year, including two large back-to-back reductions,” said TRREB president Elechia Barry-Sproule in the board’s release. “All else being equal, further rate cuts in 2025 and home prices remaining below their historic peaks should result in improved market conditions over the next 12 months.”

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7 Tips to give yourself a financial restart this New Year

This year, why not prioritize your financial well-being?

The start of a new year is the perfect time to take control of your finances and set yourself up for success. Whether you’re recovering from holiday spending or simply looking to make smarter financial decisions, a fresh approach can help you achieve your goals.

Taking a moment to reflect on your current habits, set achievable goals and create a realistic plan can make all the difference in building financial confidence.

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How much money do you need to earn to buy a house in Canada?

The average income needed to buy a home keeps inching down in cities across Canada, according to the latest data.

Mortgage rates continue to decrease, and in a lot of cities across Canada, real estate prices have also been easing over the past few months.

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Five reasons why home prices will rise 10% in 2025

I aggressively predicted last year that the Bank of Canada would lower interest rates by two per cent and this would be the key theme of 2024. As it turns out, I was mostly correct since rates fell 1.75 per cent.

In 2025, the central bank has a little more room to lower rates, but the heavy lifting has been done.

This leads to the big theme of 2025: the powerful return of residential real estate. In particular, single-family detached residential real estate (not including condominiums). I believe there will be a 10 per cent increase in price year over year from 2024 to 2025. Here are the main five reasons.

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Ontario launching rebates for energy efficient home renovations and upgrades

Ontario is introducing two new energy efficiency programs, including one offering rebates for certain home improvements.

The Home Renovation Savings Program, launching Jan. 28, will rebate homeowners up to 30 per cent of the cost of energy efficiency renovations and improvements, such as new windows, doors, insulation, air sealing, smart thermostats, heat pumps, and rooftop solar panels and battery storage systems.

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Canada could see a wave of mortgage renewals in 2025

“We have no idea how we will afford an increase.”

That’s what Alecia, a Horseshoe Valley, Ont. resident, said when asked about renegotiating her mortgage in 2025 and the expected rise in costs.

“It’s not just the mortgage, it’s the property tax and all other expenses that are of concern,” she told CTV News Toronto.

The 63-year-old property owner is one of 1.2 million Canadians(opens in a new tab) facing a mortgage renewal in 2025, according to a report (opens in a new tab)released by the Canadian Mortgage and Housing Corporation (CMHC).

At least 85 per cent of those existing home loans were contracted when the Bank of Canada’s interest rate was at or below one per cent, the report notes, which means more than one million homeowners will face “significantly higher interest rates” when they renew.

The payment shock for many Canadians will come even after the Bank of Canada cut interest rates by a total of 175 basis points since last spring(opens in a new tab). Interest rates had previously reached a 22-year high in an effort to curb inflation.

Read More
 

 

Interest rate cuts, mortgage rule changes could speed up GTA housing market in 2025, experts say

Interest rate cuts and changes to Canada's mortgage rules could set the stage for change in the Greater Toronto Area's real estate market this year, experts say. 

Last year the federal government expanded eligibility for 30-year mortgage amortizations to all first-time homebuyers and all purchasers of new builds and also increased the $1 million price cap for insured mortgages to $1.5 million.

That means buyers can purchase a $1.5 million home with less than 20 per cent down.

Read More:
https://www.cbc.ca/news/canada/toronto/gta-real-estate-market-2025-look-ahead-1.7422727

 

5 easy home improvement projects to tackle this winter

Here are five simple home improvement ideas you can tackle this winter on a budget.

1. Add warmth with a fresh coat of paint

Nothing transforms a room faster than a new coat of paint. Opt for soothing, warm tones like creamy beiges, sage greens, or soft terracottas to create a cozy aesthetic that can be enjoyed throughout the seasons. Feeling bold? Colour drenching is a popular trend worth exploring that involves containing a single wall colour throughout the space onto the ceiling, trim, baseboards and doors. 

If you’re not ready to change up the wall colours just yet, freshly-painted trim and baseboards make any space sparkle. Be sure to dust first, use low-VOC paints for a healthier indoor environment, and open windows for ventilation. 

Bonus: Winter’s low humidity makes it an ideal time for painting projects.

2. Organize and declutter your living spaces

Winter offers the perfect opportunity to tackle clutter. Focus on practical spaces, like your kitchen cabinets, bathroom vanities, and closets. 

Start by removing items that you never use or are damaged and broken. Utilize stackable bins, drawer organizers, or hanging solutions to maximize your storage. Decluttering doesn’t just clear physical space – it clears mental space, too. If you’re getting rid of items you no longer need but are still in excellent condition, consider donating them to your local thrift or consignment store.

3. Seal out the chill

Drafty windows and doors not only make your home feel cold, but can also increase your heating bills. Seal cracks with caulking or weatherstripping, and try insulated curtains as a stylish way to keep the warmth in. 

If you’re feeling ambitious, our article on preparing your home for winter is worth the read.

4. Upgrade small details for big impact

Replacing door handles, cabinet knobs, drawer pulls, lightswitch and outlet covers, or faucet fixtures is a budget-friendly way to upgrade your home without going through with a full renovation. Look for modern finishes, like brushed gold or matte black to instantly elevate your space.

If you’re considering taking on a larger renovation project, winter is the perfect time to do it since supplies and services are in lower demand than in the summer months.

5. Build a functional and inspiring workspace

Whether you’re working from home or have always wanted a dedicated space for a hobby, take some time to create or refresh a workspace. To create a space that’s both productive and inspiring, determine what lighting is required, ensure all items have their place, and add personality with pictures, plants and other trinkets that bring a smile to your face. 

Not sure how to fit an office into your current living space? Check out this article for helpful tips on how to carve out a functional workspace in any home.

A Cozy Reminder

Home improvements don’t have to be perfect or Pinterest-worthy to make an impact. The little changes you make this winter can create a space that feels like a true reflection of you — a place where you and your family can rest, recharge, and reconnect. Start small, work at your own pace, and find joy in the process.

 

2025 - Financial changes in Canada you should know about this year

There are a few changes in federal policies that could affect Canadians' finances in the new year.

Brian Quinlan, a chartered professional accountant with Allay LLP, says many of the changes are routine. These include inflation-based adjustments to what tax bracket you fall into.

Other changes -- such as the capital gains tax changes that will be in effect for their first full year in 2025 -- may need more planning.

Read More:
https://www.ctvnews.ca/business/financial-changes-in-canada-you-should-know-about-this-year-1.7162059
 

 

Housing market poised for 2025 comeback

As the calendar flipped one year ago, Canadian real estate watchers were optimistic a sluggish 2023 would give way to a rebound, with hopes of renewed demand as soon as the spring.

But the lag in 2024 lasted longer than some expected, with the Bank of Canada waiting until June to deliver the first of the year's five interest rate cuts. While buyers stormed back to the market this fall, experts noted the first few rate cuts hadn't been enough to motivate everyone to leave the sidelines quite yet.

Now heading into 2025, economists and real estate agents believe activity is poised to remain strong amid much lower borrowing costs and more favourable rules for buyers, despite an overall challenging affordability picture.

Read More:
https://www.ctvnews.ca/business/housing-market-poised-for-2025-comeback-as-lower-rates-unleash-pent-up-demand-1.7159943?__vfz=medium%3Dsharebar

 

National aggregate home price forecast to increase 6.0% year over year in Q4 of 2025

For the last few years, the Canadian housing market has experienced trends far outside the norm. A global pandemic, rapidly rising interest rates and economic disruptions threw the real estate market off course for a time, but 2025 is expected to bring conditions back in line with long-term historical averages.

Read More Below:
https://blog.royallepage.ca/home-price-growth-to-return-to-long-term-norms-in-2025-ending-era-of-market-unpredictability/

 

Market Trend - Nov 2024

Canada’s housing market continued its upward trend in November 2024, as it recorded gains in both sales activity and prices, according to the latest report from the Canadian Real Estate Association (CREA). This marks the sixth consecutive month of sales growth, further solidifying the market’s recovery since mid-year when the first cut to the overnight lending rate was made.

Key urban centers such as the Greater Toronto Area, Greater Vancouver, Calgary, and Montreal all saw increased activity, with notable gains also recorded in several smaller cities across Alberta and Ontario.

Read more below:
https://blog.royallepage.ca/crea-monthly-housing-report-november-2024/

 

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